Bill117th CongressFiled Feb 23, 2021Taxation
H.R. 1242
Skills Investment Act of 2021
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Feb 23, 2021)
Skills Investment Act of 2021
This bill expands tax-favored Coverdell education savings accounts to allow the accounts to be used for educational or skill development expenses such as training services, career and technical education activities, career services, youth workforce investment activities, and adult education and literacy activities.
The bill also
- renames the accounts Coverdell lifelong learning accounts,
- increases contribution limits,
- modifies the age-based contribution restrictions,
- allows a tax credit for a portion of an employer's contributions to an employee's account, and
- allows beneficiaries to deduct contributions made by or on behalf of the beneficiary.
What just happenedFeb 23, 2021
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Kilmer, Derek [D-WA-6](D-WA)Sponsor
4 cosponsors1 D3 R
4cosponsors1committees3actions1related bills9subjects
- Introduced in HouseFeb 23, 2021
- Feb 23, 2021IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Feb 23, 2021IntroReferralIntro-H
Introduced in House
- Feb 23, 2021IntroReferral1000
Introduced in House